State of New Jersey Common Pension Fund D Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

State of New Jersey Common Pension Fund D increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,917 shares of the financial services provider's stock after acquiring an additional 3,612 shares during the period. State of New Jersey Common Pension Fund D's holdings in The PNC Financial Services Group were worth $26,049,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PNC. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. ORG Partners LLC raised its stake in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $33,000. Finally, GPS Wealth Strategies Group LLC bought a new position in The PNC Financial Services Group during the 2nd quarter valued at about $38,000. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PNC has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Barclays boosted their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, UBS Group upped their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $185.71.

The PNC Financial Services Group Stock Up 0.4 %

Shares of PNC traded up $0.76 during mid-day trading on Friday, hitting $203.97. The company's stock had a trading volume of 1,888,935 shares, compared to its average volume of 2,021,120. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company's 50-day moving average is $185.53 and its 200-day moving average is $171.08. The PNC Financial Services Group, Inc. has a 52-week low of $118.56 and a 52-week high of $205.20. The firm has a market capitalization of $80.93 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.16 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the business earned $3.60 earnings per share. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares of the company's stock, valued at approximately $104,052,553.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company's stock, valued at $170,299.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the sale, the chief executive officer now owns 546,007 shares of the company's stock, valued at approximately $104,052,553.99. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,279 shares of company stock worth $2,442,673 over the last quarter. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.